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Key Findings:
42 announced CEO departures through Q3 2021 versus 70 in all of 2020
5.3% appointed CEOs in 2021 so far are women versus 15.8% in all of 2020
18.4% of appointed CEOs in 2021 so far are external hires versus 30% in all of 2020
Equilar 500 companies have announced 42 CEO departures through the third quarter of 2021. This compares to a total of 70 announced CEO departures in all of 2020. Of the 42 CEOs, 26 departed by the end of the third quarter with 11 others expected to leave later this year.
The average CEO lifetime pay for all 42 departing CEOs is $102.9 million, with a median of $75.3 million. Michael W. Lamach (Trane Technologies plc), whose tenure surpassed 11 years, earned the highest total CEO lifetime pay at $279.6 million. George E. Sherman (Gamestop Corp.), with a tenure of more than two years, had the lowest CEO pay at $4 million.
Through the third quarter of 2021, two female CEOs announced their departures: Margaret Keane (Synchrony Financial) and Mary Dillon (Ulta Beauty, Inc.). Two women were appointed CEO through the third quarter of 2021: Joyce A. Mullen (Insight Enterprises, Inc.) and Ellen G. Cooper (Lincoln National Corporation). In addition, Rosalind G. Brewer was appointed CEO at Walgreens Boots Alliance, Inc. following the announcement of Stefano Pessina’s transition to Executive Chairman in 2020. Overall, women appointed as CEOs in the Equilar 500 increased from 11% in 2019 to 15.8% in 2020.
External appointments decreased from 32% in 2019 to 30% in 2020. For all announced appointments through Q3 2021, 18% of CEOs appointed have been external hires.
Departures
| Company Name | Ticker | Name | Effective Date | Gender | CEO Tenure1 | CEO Lifetime Pay2 |
1Calculated as the earlier of the effective date or September 30, 2021
2Compensation data collected since 2006
3Dennis R. Glass will resign following the Company’s 2022 Annual Meeting.
Successors
| Company Name | Ticker | Successor | Successor Gender | Internal | Successor Previous Role |
Senior Research Analyst at Equilar, co-authored this post.
Research Analyst II at Equilar, co-authored this post.
Please contact Amit Batish, Director, Content & Communications, at abatish@equilar.com for more information on Equilar research and data analysis.
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